A Technological Advance

question 159

Multiple Choice

A technological advance

• A) introduces new techniques or methods so that firms can produce more valuable outputs per unit of input.
• B) reintroduces an old method of production that is more efficient than current methods.
• C) introduces a new technique or method for production.
• D) is the invention of a new product to introduce into the market.
• E) is the machine or technique that permits productivity.

---

Definitions:

Check Register

A record-keeping tool used to track checks written, deposits made, and the current balance of a checking account.

Bank Statement

A document issued by a bank that summarizes a customer's financial transactions and balance over a specific period.

Service Charge

A fee collected for services provided, often added to bills in restaurants, hotels, or banking services.

Reconciled Balance

The balance of an account after accounting discrepancies have been resolved and all entries have been made.